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Results 1 - 10 of 613 |
Posted Date: Friday, October 30, 2020
In its response to Community Financial Services Association of America and a Texas trade group’s suit alleging the payday loan rule is illegal, the Consumer Financial Protection Bureau stated the rule was valid because Director Kathy Kraninger ratified it.
Plaintiffs and defendant have filed motions for summary judgment with the federal court in the Western District of Texas.
Read on for details. Read on »
Posted Date: Friday, October 30, 2020
The Financial Crimes Enforcement Network, in conjunction with the Federal Reserve, proposed a new rule to make changes to the Bank Secrecy Act’s recordkeeping and travel rule regulations.
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Posted Date: Friday, October 30, 2020
HR 8675 was introduced in Congress, and if passed will require federal banking agencies to exclude paycheck protection program loans from certain asset calculations.
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Posted Date: Thursday, October 29, 2020
The Office of the Comptroller of the Currency issued a new rule some say will allow predatory lenders to evade state interest caps.
The regulation, known as the True Lender Rule, clarifies what entity is considered the ‘true lender’ when determining which compliance obligations apply. Groups like the Americans for Financial Reform disagree with this rule and predict legal challenges.
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Posted Date: Thursday, October 29, 2020
The National Association of Federally-Insured Credit Unions, the Credit Union National Association, and several other financial services organizations joined together in a letter to Congress about the Office of the Comptroller of the Currency’s proposed special purpose payments charter for nonbanks.
In the letter, the groups asked the new charter be subject to a notice-and-comment process.
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Posted Date: Thursday, October 29, 2020
The Consumer Financial Bureau issued an advance notice of proposed rulemaking on consumer access to financial records.
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Posted Date: Friday, October 23, 2020
The Consumer Financial Protection Bureau’s (CFPB) Director Kathy Kraninger joined MBA Chairman Susan Stewart on the virtual stage at the annual MBA Live convention.
The two discussed the bureau’s proposed Qualified Mortgage rule, how the CFPB is helping homeowners during the pandemic, and the loan originator compensation rule.
To see what Kraninger had to say, read on. Read on »
Posted Date: Friday, October 23, 2020
The House of Representatives introduced a bill that, if passed, would aid in the creation of de novo community banks, hopefully providing help to underbanked communities.
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Posted Date: Thursday, October 22, 2020
Federal Housing Finance Agency’s (FHFA) Director Mark Calabria spoke about the agency’s current priorities at the Mortgage Bankers Association (MBA) Annual Convention and announced a new proposed rule.
While detailing the FHFA’s response to COVID-19, Calabria praised MBA members for their hand in helping homeowners and renters alike. He also spoke about FHFA’s ongoing actions to continue assisting in the housing market recovery.
Read on for details. Read on »
Posted Date: Thursday, October 22, 2020
In a letter to Senate and House Armed Services committee leaders, the National Association of Federally-Insured Credit Unions joined other trade organizations urging legislators to include reforms to the Bank Secrecy Act/anti-money laundering regulations and ownership reform language in the National Defense Authorization Act for fiscal year 2021.
Over 30 organizations signed the letter in hopes of influencing lawmakers.
Read on for details. Read on »
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